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those retail numbers are a positive sign for the u.s. economy. investors were worried about some not so good signals today about europe's economy. stocks turned negative on comments from europe's central bank president saying the strong euro could dampen europe's recovery. here on wall street, the dow fell 42 points, the nasdaq lost three and the s&p slipped over two points. >> tom: still ahead, douglas burtnick joins us, he's with aberdeen asset management. >> susie: a battle is brewing between a big name hedge fund investor and apple. at issue: how to get apple to unlock value for shareholders. today david einhorn of greenlight capital sued apple to block a move that would stop the use of preferred shares. shareholders will vote on this at apple's annual meeting on february 27. what einhorn is proposing is that apple pay out more of its cash hoard to investors, using a special kind of preferred stock. einhorn has a lot at stake: his fund owns more than one million shares of apple, and while the stock rose a bit today, it's down 35% since its peak of $700 last september. late today app
.e.o. tim cook sheds little light on how the company plans to use its hoard of cash. that and more tonight on "n.b.r."! for the second day in a row, federal reserve chairman ben bernanke told congress the central bank is not about to change its strategy, and for a second day, a strong rally on wall street. the dow surged 175 points to a five year high, the nasdaq added 32, the s&p was up 19 points. investors and traders warmed to the federal reserve chairman's steadfast support of the central bank's bond buying spree, he thinks the asset purchases are necessary to keep interest rates low in order to spur growth and boost hiring. the fed has been buying $85 billion a month in american i.o.u.'s since last september. while it won't stop the strategy, it will soon start talking about how to stop. >> we haven't done a new review of the exit strategy yet. i think we will have to do that sometime soon. even if we don't sell any securities, it doesn't mean that our balance sheet is going to be large for many years, it just would be maybe an extra year, that's all it would take to get down to a mor
, and investors are seeing in the u.s. economy. we preview the economic state of the union. why regulators need to treat them like other business. then u.s. airways sees big benefits in merging with american airlines. we look at the new landscape for airlines if the deal goes through. we have that anmore tonight on nbr. president obama is preparing to deliver his first state of the union address of his new term, tomorrow. the american people will be listening carefully to his plans to grow the economy, especially as they struggle with less take home pay, and worries about their jobs. while there are signs of improvement in the economy, the unemployment rate rose in january to 7.9%. so what is the current state of the economy? erika miller talked to two experts with different views. >> reporter: it may seem strange to many investors that the stock market can be hovering at five- year highs, when the economy is so weak. but what's fueling the rally is not the current situation, it's hope. >> we've taken out some of the downside tail risks. so, we're feeling like although it's not going to be a bo
, wall street could use some new headlines to chew on. good economic data would be nice. friendly washington politics would also be helpful. tonight's state of the union speech might give investors a clue as to whether that's likely to happen. veteran trader teddy weissberg is hoping president obama will stress the need for bipartisanship but isn't sure that's what he'll hear. >> in terms of tonight, i don't think anybody that i talk to in the wall street arena expects to hear anything terribly dramatic one way or another. >> reporter: since lawmakers and the white house kicked the proverbial can down the road around new years, the stock market has rallied rather nicely. the s&p 500 is up nearly 7% and the dow is about 150 points away from its all-time high. of course, stocks have been getting help from corporate america, too. it turns out fourth quarter profits were better than expected, led by the housing sector and financial firms. >> about 345 companies have reported so far, of which 70% have beaten earnings expectations and 66% have beaten revenue expectations. both of these
, "n.b.r.," washington. . >> chairman of macroeconomic advisers joins us tonight from st. louis. you have been looking at the sequester and fiscal cliff for man moons, joel. a pay cut for hundreds of thousands federal employees april 1. that sounds pretty substantial. is it, to the economy? >> well, first of all, it's substantial to the people affected, no question about that. in terms of its impact on the economy, we recently did a study that suggested if the sequester goes into full effect march 1, want impact will be to knock .6% off of growth this year. that is if we thought the economy was going to grow at about 2.6% without the sequester, that will be reduced to 2% with the sequester. >> tom: for this year, we're talking $85 billion potentially taken out of the growth of government spending between march 1 and the end of september and a $4 trillion budget. proportionally for median household income that's the equivalent of $1,000 out of a $50,000 income being taken out. how can that impact economy so much? >> well, it's-- it amounts to something like an 8% cut in the level of g
Search Results 0 to 4 of about 5